Whales are held responsible for sudden price fluctuations in the crypto and traditional markets every so often. Given their capability to manipulate market prices, it becomes paramount for the general Bitcoin (BTC) investors to understand the nuances that make one a whale and their overall impact on trading.
Wallet addresses that contain large amounts of BTC are identified as Bitcoin whales. Dumping or transferring large amounts of BTC from one wallet to another negatively impacts the prices, resulting in losses for the smaller traders. As a result, tracking Bitcoin whales in real-time allows small-time traders to make profitable trades amid a fluctuating market.
Despite Bitcoin's global and decentralized nature, tracking down and monitoring whales simply boils down to accessing readily available trading data from crypto exchanges and services. There are four primary ways to track whale activities, which include monitoring known whale addresses, order books, sudden changes in market capitalization and trades on crypto exchanges.
Continue reading on https://cointelegraph.com/news/what-is-bitcoin-whale-watching-and-how-to-track-bitcoin-whales